Text of Senate Amendment 6586

On 2026-07-13, Senator Tommy Tuberville (R-AL) delivered a floor speech titled "Text Of Senate Amendment 6586" in the Senate.

Text of Senate Amendment 6586

Congressional Record, Volume 172 Issue 113 (Monday, July 13, 2026) [Congressional Record Volume 172, Number 113 (Monday, July 13, 2026)] [Senate] [Pages S3783-S3784] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 6586. Mr. TUBERVILLE (for himself and Ms. Lummis) submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place in title X, insert the following: SEC. ___. REPORT ON THE STRATEGIC IMPLICATIONS OF BITCOIN FOR UNITED STATES NATIONAL AND ECONOMIC SECURITY. (a) Findings.--Congress finds that-- (1) Bitcoin is emerging as a strategically significant monetary asset, with a fixed supply, increasing adoption, and growing relevance in sovereign reserve policy--posing both opportunities and risks to United States national economic security and the international financial system anchored by the dollar; (2) adversarial and allied nation-states are accelerating efforts to accumulate Bitcoin--directly and through affiliated entities--raising the possibility of long-term geoeconomic and game-theoretic competition over strategic access to a scarce monetary resource, with implications for deterrence, financial sovereignty, and the credibility of United States economic power; and (3) a comprehensive Department of Defense assessment is necessary to evaluate the strategic implications of global Bitcoin accumulation, identify potential risks and opportunities for integrated United States statecraft, and inform future interagency actions to preserve national and economic security in the digital asset era. (b) Report Required.-- (1) In general.--Not later than 120 days after the date of the enactment of this Act, the Secretary of Defense shall submit to the Committee on Armed Services of the Senate and the Committee on Armed Services of the House of Representatives a report on Bitcoin's strategic implications for the United States and recommended courses of action. (2) Scope.--The report submitted pursuant to paragraph (1) shall, at a minimum, include the following: (A) Global accumulation analysis.--A detailed assessment of the current and planned accumulation of Bitcoin by nation states and nation state-affiliated entities, including sovereign wealth funds, state-owned enterprises, and individual national leaders, as well as related policy and adoption trends. (B) Comparative united states position.--An analysis of present and planned United States Government Bitcoin holdings compared both to other nations' holdings of Bitcoin and to nation state holdings of gold. (C) Net assessment.--An evaluation of the strategic advantages and disadvantages for United States national and economic security of holding a greater share of Bitcoin than any other nation. (D) Game theoretic dynamics.--An examination of the competitive dynamics likely to emerge as nation states increase Bitcoin accumulation as a sovereign reserve asset. [[Page S3784]] (E) Legal and policy review.--A review of Department of Defense authorities, policies, regulations, and contractual rules that govern or constrain any Department of Defense component or contractor in receiving, holding, acquiring, disposing, transacting, or otherwise lawfully using Bitcoin. (F) Integrated statecraft recommendations.--Concrete recommendations for leveraging Bitcoin across diplomatic, informational, military, economic, financial, intelligence, and law enforcement (DIME FIL) instruments of national power. (c) Coordination and Contributors.-- (1) In general.--In preparing the report required by subsection (b)(1), the Secretary shall coordinate through the Office of the Secretary of Defense (OSD) and shall incorporate input from-- (A) combatant commands; (B) Department organizations with economic security or financial warfare responsibilities and expertise, including the Office of Strategic Capital and the Office of Expanded Competition; and (C) the Under Secretary of Defense for Intelligence and Security. (2) Consultation.--In preparing the report required by subsection (b)(1), the Secretary shall consult, as the Secretary considers appropriate, with-- (A) the Executive Director of the President's Working Group on Digital Asset Markets; (B) the Chair of the Council of Economic Advisers; and (C) other interagency partners with relevant expertise. (3) Solicitation of data, analysis, and assessment support.--The Secretary may solicit data, analysis, and assessment support from nongovernmental organizations, academia, and industry consistent with applicable procurement and security regulations. (d) Form of Report.--The report required by subsection (b)(1) shall be submitted in unclassified form, but may include a classified annex to address sensitive intelligence, operational plans, or proprietary data. (e) Definition of Bitcoin.--In this section, the term ``Bitcoin'' means the cryptographically secured digital asset native to the Bitcoin public blockchain network, identified by the ticker symbol ``BTC''. Such term does not include any fork or derivative network that is not in consensus with the canonical Bitcoin blockchain. ______